Ibstock has taken a 75 per cent stake in Generix in a move to broaden its range of façade systems as the construction market seeks lower carbon, non-combustible forms of cladding for use in the mid-high rise and modular market segments.
Generix, which was formed in 2013 in Bloxwich in the West Midlands, produces three types of façade systems: Generix-Lite (natural stone panels), Infinity (ceramic panels), and Genbrix (mechanically fixed brick-slip cladding.)
Co-founder and Managing Director, John Nolan, will remain in his role and retain the minority shareholding in Generix.
Jeremie Rombaut, Managing Director of Ibstock Futures commented: “Generix represents an important strategic step for Ibstock Futures, with a new systems offering into the fast-growing sectors of the UK facades market. Through this acquisition, we have a great opportunity to expand our customer offering in new market segments. I welcome John and his team to Ibstock and look forward to scaling the business together in the years to come.”
The Mills & Reeve corporate team was led by partner Joanna Jowitt who said: “We are pleased to advise Ibstock Futures on this strategically important acquisition which will provide an excellent platform for the company to enhance its presence in the rapidly expanding façades sector."
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